Executives Present Requests to SEC During Second Crypto Roundtable
The SEC has been active since Gary Gensler's departure, particularly with the formation of a crypto task force and roundtable discussions on crypto regulation.
Key actions include:
- Statements on crypto-related disclosures from the Division of Corporation Finance
- A request to pause litigation with Binance
- Hosting a second crypto roundtable focused on trading regulations
Panelists at the recent roundtable represented various sectors, including:
- Coinbase
- Uniswap Labs
- New York Stock Exchange
Challenges acknowledged by SEC Acting Chair Mark Uyeda include:
- Most tokenized securities today are unregistered
- Compliance difficulties with the order protection rule
- Custody and execution being handled by crypto platforms rather than traditional exchanges
Panelist insights included:
- Call for precise regulatory guidance from NYSE's Jon Herrick
- Texture Capital's Richard Johnson advocating for blockchain as the official record for securities
- Coinbase’s Gregory Tusar requesting an integrated market structure for securities and commodities
- Suggestions to merge SEC and CFTC for better regulation
- Concerns from Uniswap Labs' Katherine Minarik about not stifling DeFi innovation
- Cumberland DRW's Chelsea Pizzola urging more immediate guidance from the SEC
The next roundtable is scheduled for April 25, focusing on crypto custody considerations.